Project

Company behind Project:

Dfinity Stiftung

Founding Date:

Description

FINITY is conceived as a compatible sister network for Ethereum that extends the ecosystem by intoducing governance by an omnipotent distributed intelligence called the "Blockchain Nervous System". The traditional "Code is Law" paradigms of Bitcoin and Ethereum are made subject to the distributed intelligence, which can also upgrade the protocol, update economic parameters and run special smart contract code that uses privileged instructions to reverse hacks such as The DAO. The DFINITY project also represents the culmination of several years research into new cryptography and network protocols referred to collectively as "crypto:3" that vastly improve the performance of the virtual computer produced and lay a roadmap to infinite scalability and a true "decentralized cloud" where smart contracts can implement open versions of mainstream services such as Uber and high load business systems - exciting benefits Ethereum may be able to gain too by backporting selected techniques. Special properties granted by crypto:3 also make it possible for DFINITY private clouds to host smart contracts that can call into smart contracts on the public DFINITY network.

After the initial seed financing in February, Dfinity is likely to initiate a main fundraiser towards the end of the year.